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De Beers Lets Clients Reject 50% of Goods
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De Beers will allow sightholders to refuse more rough diamonds than usual at thisweek’s sight, aiming to ease pressure on the market without reducing prices. Clients will be free to turn down 50% of available goods amid a slump...
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Rough Markets
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Aug 18, 2019
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Joshua Freedman
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De Beers Sales Sink to Lowest Level Since 2015
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De Beers’ rough-diamond sales plummeted 53% this month ascustomers accepted the miner’s offer to defer purchases until the marketimproves.Weak polished demand and excess supply in the manufacturingand trading sectors have hurt sightholders’ appetite...
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Mining
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Jul 30, 2019
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Joshua Freedman
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De Beers Lets Clients Delay Rough Purchases
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De Beers loosened its purchasing requirements for roughbuyers at last week’s sight in an effort to ease the oversupply affecting the diamond market.Sightholders have struggled to reduce their inventories due to an imbalance of stocks and weak polished demand....
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Mining
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Jul 28, 2019
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Joshua Freedman
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Stop Buying Rough
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The prevailing panic surrounding the rise of lab-grown diamonds is overshadowing the bigger challenge facing the diamond market: There is no profit in the trade. This long-term challenge is reaching crisis levels, as manufacturers lack liquidity and...
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Rough Markets
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Jul 03, 2019
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Avi Krawitz
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De Beers Cuts Prices as Rough Sales Slide
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De Beers’ rough-diamond sales slumped to a 20-month low of $390 million in June amid weak sentiment in the manufacturing sector. Sightholders noted the price cuts De Beers implemented on certain categories were not enough to stimulate demand. “The...
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Rough Markets
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Jun 25, 2019
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Avi Krawitz
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De Beers Sales Slump 25% in May
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De Beers’ sales fell to their lowest level in more than ayear and a half, as a slowdown in the Indian manufacturing sector hit roughdemand. Revenue dropped 25% to $415 million for the fourth salescycle of the year, which...
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Rough Markets
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May 21, 2019
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Joshua Freedman
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De Beers Sales Jump 10% in April
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De Beers recorded its largest rough-diamond sale sincemid-2018 as demand was steady following a slow first quarter. Sales rose 10% year on year to $575 million in the thirdsales cycle of the year, including last week’s sight...
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Rough Markets
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Apr 10, 2019
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Rapaport News
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De Beers Reduces Sightholder Supply
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De Beers sightholders are bracing for lower rough supplyfor the rest of 2019 as the miner reduces its production and fulfills itscommitments to support local manufacturing in Africa.The company expects production to drop as its Victor minein...
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Rough Markets
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Apr 08, 2019
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Joshua Freedman
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Weak Demand Weighs on De Beers Sales
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De Beers’ sales fell for the second consecutive month, ashigh rough prices and slim midstream profits softened demand from buyers,sightholders reported. Sales of $490 million in February were 13% below ayear ago amid...
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Rough Markets
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Mar 06, 2019
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Joshua Freedman
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De Beers Sales Slump Amid Market Weakness
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De Beers’ rough-diamond sales slowed in January as adisappointing holiday season piled further pressure on the midstream. Proceeds fell to $505 million at the first sales cycle ofthe year, 25% lower than the $672 million it sold...
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Rough Markets
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Jan 29, 2019
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Joshua Freedman
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De Beers Green-Lights Disclosure-Rule Changes
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De Beers has approved plans to allow sightholders to referto its goods as “DTC diamonds,” a company spokesperson confirmed with RapaportNews on Tuesday. The miner consulted with clients during the December sightin Botswana, proposing to relax its...
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Mining
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Jan 08, 2019
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Joshua Freedman
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De Beers, Alrosa Reveal 2019 Sale Schedules
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De Beers and Alrosa have released the dates of theirrough-diamond sales for 2019. Next year, De Beers will not hold a sight inOctober, replacing it with a sight in August instead. Alrosa sales also includegoods from its...
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Mining
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Dec 25, 2018
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Rapaport News
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De Beers Sales Rise After Diwali Break
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De Beers sold $540 million of rough diamonds in its Decembercycle, buoyed by the return of Indian manufacturers from their seasonal holidayshutdown, the company said Tuesday. Revenue from the 10th cycle, including last week’s sight...
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Mining
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Dec 18, 2018
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Rapaport News
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De Beers Ready to Relax Its Provenance Rules
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De Beers is planning to loosen its source-disclosure restrictions for sightholders following requests for increased transparency, Rapaport News has learned.The company consulted with clients during this week’s sightin Botswana, proposing to let them refer...
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Rough Markets
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Dec 13, 2018
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Joshua Freedman
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De Beers Sales Slip to $440M
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De Beers recorded its lowest-value sales cycle this year asweak Indian demand prompted it to drop prices of cheaper goods. Proceeds fell to $440 million in November as the miner reducedprices by high-single-digit percentages for rough diamonds costing...
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Rough Markets
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Nov 20, 2018
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Rapaport News
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De Beers Cuts Prices of Cheaper Rough
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De Beers significantly reduced prices of lower-quality rough diamonds at this week’s sight in response to a slowdown in the Indian manufacturingsector, dealers reported. Prices fell by high-single-digit percentages versus theprevious sale, sightholders told Rapaport News Tuesday. The...
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Rough Markets
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Nov 13, 2018
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Joshua Freedman
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Indian Demand Weak at $475M De Beers Sale
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Manufacturers were concerned about profitability at last week’s De Beerssight, and expressed hope their new supply agreement with the miner would easethe situation.De Beers had proceeds of $475 million during the October sales...
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Rough Markets
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Oct 17, 2018
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Joshua Freedman
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De Beers Allows Deferrals at $505M Sale
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De Beers’ sales slipped to $505 million at its seventhcycle this year as the miner allowed sightholders to refuse allocations of cheaperrough diamonds. The proceeds — which include last week’s sight — weremarginally lower than the $507 million...
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Rough Markets
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Sep 12, 2018
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Joshua Freedman
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Who Are the Top Rough Buyers?
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In this excerpt from the latest issue of the Rapaport Research Report, we list the 124 companies buying from De Beers, Alrosa, Rio Tinto and Dominion. Much has been said about the journey a diamond...
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Rough Markets
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Jul 26, 2018
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Avi Krawitz
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De Beers, Botswana Prep for New Sales Deal
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Botswana once again finds itself at a crossroads. The sparsely populated,landlocked country is in a constant battle to ensure the longevity of itsdiamond industry.Recognizing that diamond mining will not last forever, thegovernment’s beneficiation program has sought to establish...
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Mining
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Jul 09, 2018
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Avi Krawitz
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